Elon Musk has a current worth of approximately $260 billion and is projected to be the world’s first trillionaire within a couple to three years as his net worth is growing at a rate of 139% per year. Twitter is priced, based upon his “premium” offer, at $37 billion. Therefore, Elon can afford it. O.K., what are the pros and cons? The pro of course is his stated purpose to “free it up” from all of the repression and censorship of truth. That would be a very good thing. But, what if in the process, he should be criticized on Twitter – would he allow that? Or what if he becomes a tyrant and is more prone to censorship than the current batch of board members?
The cons could be very dark. Right now, the stock market is owned by tens of millions, if not over a billion people. They all have both a vested interest, and the benefit of capital gains, dividend income or both. If Elon has his way and buys Twitter, then there will be no opportunity for the tens of thousands, if not millions invested in it to get any future capital gains or dividends. Yes, they could take their money which is being inflated away, and reinvest it. No big deal – right? But, what happens if some wealthy person or some big privately held hedge fund decides to buy Exxon Mobil? There are a lot of people who would like to continue to get their dividends which are significant. If a private company should buy them out, then there would be no more dividend payouts to the public who owns stock. Instead, they would have only dollars which are declining in value quite rapidly – been to the grocery store lately?
If this should become a trend, remember Blackstone alone has $10 trillion under management, and Vanguard is not far behind (both privately held) – ultimately, the entire New York Stock Exchange could go private, and all capital gains and dividends could be eliminated putting the masses in possession of worthless dollars, and thereby impoverishing the masses while the 1/10th % all become trillionaires, and maybe even a few quadrillionaires. That would be very bad for America and the world. Before you champion Musk’s purchase of Twitter, consider the long term consequences of this kind of a mindset.
Remember, Klaus Schwab of the World Economic Forum (WEF) said; “By 2030 you’ll own nothing and be happy!” Really? Is this the first salvo in that forecast? If you own no stocks, then you likely will not own a home because you’ll have no income to support it. If cities, counties and states decide to finance themselves with property taxes, you may get taxed out of your home. The horizon is dark, but there is a God Jehovah Who is in charge, and we must rely upon Him for sustenance and guidance!
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